A new wave of digital transformation is in progress, and this new wave is powered by the exponential growth in the volume and complexity of data. To make data valuable it must be collected, stored, analyzed, and operationalized so as to drive value. Forrester has conducted a Total Economic Impact (TEI) analysis showing the savings and opportunities made possible for organizations moving to SingleStore.
In order to put savings and benefits into context, Forrester conducted case studies with four SingleStore customers. These customers face many of the data infrastructure problems that prevent organizations from using their data effectively, including:
- Data in multiple silos
- Stale data
- Complex data architectures
- Scalability limited, with expensive and fragile efforts to manage scalability
- Poor performance for specific functions and across the board
The result? Brittle, overly complex data processing systems which, in many cases, are starting to come crashing down.
The Forrester TEI Methodology
The four customers that Forrester studies all upgraded to SingleStore to solve specific problems, as described below. The four customers were in online services; professional services’ utilities; and online security services. Each customer has from one to several use cases for SingleStore running during the study period.
Forrester then used their trademark TEI methodology, scaling the results to a representative composite organization with 15,000 employees and $3B in revenues. The results were impressive – $15M in cost savings and new benefits across several initiatives and new opportunities generated by improved flexibility, all within a three-year period.
SingleStore is The No-Limits Database™, offering a database solution that emphasizes three things: speed, with accelerated time to insight; scale, the ability to grow data management, and company operations, at low and stable costs; and SQL, support for the lingua franca that has powered business solutions for decades.
Taking advantage of these capabilities, the specific companies that were studied, and the composite company that Forrester created for the analysis, experienced the benefits that SingleStore promises:
- No more missed SLAs.
- No more fragmented data architecture.
- No more “we can’t do that.”
Customer Benefits with SingleStore
The benefits achieved in the composite company include:
- Reducing legacy database costs. Lower software license fees and reduced hardware costs for running the software, saved \$4.1M over three years.
- Avoiding fraud-related costs. The cost of detecting fraud dropped, and success in detecting fraud improved, with a net benefit of \$2.2M over three years.
- Reducing hardware issues. The composite organization avoided 25 business-critical failures over three years for a savings over that time period of \$5.4M.
- Improved employee productivity in analytics. Reporting and data analysis time dropped from many hours to minutes, for productivity gains of \$2.4M over three years.
- Better decision-making. All across the business, managers take advantage of opportunities more quickly, with direct revenue benefits of nearly \$1m in three years.
- Improved product and services quality. Employees have more and better data at hand for helping colleagues, partners, and customers, with benefits compounding over time.
A composite organization, by taking steps based on Forrester’s case study analysis of four actual SingleStore customers, would experience benefits of $15M against costs of roughly $3.7M, for a net present value (NPV) of \$11.3M and an ROI of nearly 300%.
How Customers Grow SingleStore’s impact
In working with customers, we find that the benefits of SingleStore compound in another, powerful way. Customers tend to start by adopting SingleStore, as a new database in their arsenal, for a limited, specific use case where the cost/benefit ratio is hugely favorable and crystal clear. Once they get hands-on experience with SingleStore, however, they come up with new ideas for how to use it more broadly.
Fanatics, for instance, dramatically scaled their ambitions, scaling SingleStore up to use it as the core engine for their entire companywide, worldwide transaction capability. Similarly, a financial services company made a two-step move away from Oracle. They now run operational analytics on a combination of Kafka streaming and the SingleStore database.
See the Benefits for Yourself
To see the benefits for yourself, download the Forrester TEI Report. And for hands-on experience, download and run SingleStore for free.